Alaska Air Group (NYSE:ALK) Hits New 52-Week High – Here’s What Happened

Alaska Air Group, Inc. (NYSE:ALK) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $54.14 and last traded at $53.52, with a volume of 217666 shares changing hands. The stock had previously closed at $53.44.

Analysts Set New Price Targets

ALK has been the topic of several research analyst reports. Melius raised shares of Alaska Air Group from a “hold” rating to a “buy” rating and set a $56.00 target price on the stock in a report on Monday, October 28th. The Goldman Sachs Group reiterated a “buy” rating and issued a $70.00 price target on shares of Alaska Air Group in a research note on Friday, November 15th. Bank of America increased their price objective on shares of Alaska Air Group from $50.00 to $55.00 and gave the company a “buy” rating in a report on Friday, September 13th. Barclays boosted their target price on Alaska Air Group from $55.00 to $80.00 and gave the stock an “overweight” rating in a research report on Thursday, November 14th. Finally, Evercore ISI cut their price target on Alaska Air Group from $60.00 to $55.00 and set an “outperform” rating for the company in a report on Thursday, October 3rd. Three investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Alaska Air Group currently has a consensus rating of “Moderate Buy” and an average target price of $58.69.

Alaska Air Group Stock Down 0.5 %

The company has a market cap of $6.68 billion, a PE ratio of 21.23, a price-to-earnings-growth ratio of 1.21 and a beta of 1.59. The company has a fifty day moving average of $46.92 and a two-hundred day moving average of $41.80. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.57 and a current ratio of 0.60.

Alaska Air Group (NYSE:ALK) last posted its quarterly earnings data on Thursday, October 31st. The transportation company reported $2.25 earnings per share for the quarter, beating analysts’ consensus estimates of $2.22 by $0.03. The business had revenue of $3.07 billion for the quarter, compared to analysts’ expectations of $3 billion. Alaska Air Group had a net margin of 2.99% and a return on equity of 12.81%. The business’s revenue was up 8.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.83 earnings per share. As a group, analysts anticipate that Alaska Air Group, Inc. will post 4.26 earnings per share for the current fiscal year.

Institutional Trading of Alaska Air Group

Several institutional investors have recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its holdings in shares of Alaska Air Group by 2,087.8% in the third quarter. Assenagon Asset Management S.A. now owns 762,889 shares of the transportation company’s stock worth $34,490,000 after buying an additional 728,019 shares during the period. Wellington Management Group LLP purchased a new stake in Alaska Air Group in the third quarter worth $26,390,000. Charles Schwab Investment Management Inc. lifted its position in shares of Alaska Air Group by 45.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,422,247 shares of the transportation company’s stock worth $64,300,000 after purchasing an additional 442,331 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Alaska Air Group by 5.8% during the second quarter. Dimensional Fund Advisors LP now owns 6,504,583 shares of the transportation company’s stock valued at $262,789,000 after purchasing an additional 357,907 shares during the period. Finally, Mesirow Institutional Investment Management Inc. bought a new position in shares of Alaska Air Group in the second quarter worth about $11,475,000. Institutional investors own 81.90% of the company’s stock.

Alaska Air Group Company Profile

Alaska Air Group, Inc, through its subsidiaries, operates airlines. It operates through three segments: Mainline, Regional, and Horizon. The company offers scheduled air transportation services on Boeing jet aircraft for passengers and cargo in the United States, and in parts of Canada, Mexico, Costa Rica, Belize, Guatemala, and the Bahamas; and for passengers across a shorter distance network within the United States, Canada, and Mexico.